There’s a reason so many people have been struggling to purchase a home this year. Not only are housing prices elevated as a result of low inventory, but mortgages are expensive to sign.
As of this writing, the average mortgage rate on a 30-year loan is 6.82%, according to Freddie Mac. But rates have fluctuated a bit since the start of the year, and they’ll likely continue to do so based on general market conditions.
Meanwhile, most mortgage experts expect rates to cool later in the year. But how low will they go? That’s the big question.
Federal Reserve actions could lower borrowing costs for home buyers
The Federal Reserve raised interest rates 11 times between 2022 and 2023 to help slow the pace of inflation. While the Fed’s actions don’t always completely correlate to movement in mortgage rates, they have the potential to influence them. As such, it’s not a big surprise that mortgages are currently expensive to sign.
There’s some good news, though. Despite the fact that inflation remains stubbornly elevated at over 3%, which is above the 2% level the Fed is targeting, it’s cooled nicely since 2022. As such, the Fed still thinks it can move forward with three interest rate cuts in 2024, the first of which could come within months.
What this means is that mortgage rates could fall quite a bit between now and the end of the year. But it’s tough to get a handle on how low they’ll go.
More: Check out our picks for the best mortgage lenders
Is it conceivable that mortgage rates will drop to about 6%? Yes. Whether they’ll go lower is the big question, and that’s a hard one to answer right now.
In January, the National Association of Realtors projected that mortgage rates would fall to 6.3% by the fourth quarter of the year. But if rates fall to 6.3% at the start of that quarter, they may be closer to the 6% mark by the end of it.
How to lock in the most competitive mortgage rate you can
It’s hard to know exactly how low mortgage rates will go in 2024. So instead of fixating on that, try to focus on steps you can take to set yourself up for a more attractive mortgage rate.
For one thing, try boosting your credit score. You can do so by paying bills on time and shedding some credit card debt. Checking your credit report for errors is also a great idea.
Also, try to work on reducing your debt-to-income ratio. That measures the percentage of your income that’s allocated toward existing debt payments. Paying off some credit card debt could help in this regard, too.
Finally, be prepared to shop around. You never know when one lender might have a better rate to offer you than another.
It’s fair to assume that mortgages will be less expensive to sign by the time 2024 gets close to wrapping up. But how much less expensive is a question that remains tough to answer.
Boston, MA, is a bustling waterfront city with nearly 700,000 residents. It is renowned for its prestigious universities, world-class museums, historic sites, and thriving arts scene. Boston is a beacon of history, innovation, and New England charm, with iconic landmarks such as the Freedom Trail, Faneuil Hall Marketplace, and Fenway Park.
If you’re considering living in Boston, the average rent for a one-bedroom apartment is $3,782. It’s no surprise that Boston is an expensive place to live, with many neighborhoods rent being more than the city’s average.
However, if you’re looking to rent an apartment in Boston and want a luxury apartment with water views or something in the heart of the city, then you’re in the right place. At ApartmentGuide, we’ve collected 14 of the most expensive neighborhoods in Boston to rent an apartment.
14 Expensive Neighborhoods in Boston, MA
From Columbia Point to Fort Point, there are plenty of amazing Boston neighborhoods to call home. Whether you’re looking for a luxury unit with plenty of amenities or a neighborhood with waterfront views, you’ll find them on this list.
1. Columbia Point 2. Fort Point 3. Financial District 4. D Street – West Broadway 5. Seaport District 6. Back Bay 7. Prudential – St. Botolph 8. West Fens 9. Harrison Lenox 10. Back Bay East 11. Central 12. Downtown 13. Shawmut 14. South End
Read on to see what each neighborhood has to offer its residents.
1. Columbia Point
Average 1-bedroom rent: $4,428 Apartments for rent in Columbia Point
Columbia Point is the most expensive neighborhood in Boston, as the average rent for a one-bedroom unit is $4,428. There are plenty of reasons why this neighborhood draws residents. Columbia Point is near attractions like the John F. Kennedy Presidential Library and Museum, the Commonwealth Museum, and the University of Massachusetts Boston. The area also has views of the Boston Harbor, making apartment views stunning. If you’re exploring the area, you can find plenty of waterfront trails. For renters living in Boston without a car, there are several bus stops and trains close to Columbia Point.
2. Fort Point
Average 1-bedroom rent: $4,097 Apartments for rent in Fort Point
Fort Point is a bustling area that’s south of downtown Boston. This former industrial neighborhood is near lots of attractions like the Institute of Contemporary Art and the Boston Children’s Museum. Fort Point is well-known for its waterfront spaces like Martin’s Park and the charming shops and cafes around Congress Street. The average rent for one-bedroom apartments is $4,097, which is about $300 above the city’s average, making it a pricier neighborhood. However, Fort Point’s location and amenities may be worth it.
3. Financial District
Average 1-bedroom rent: $4,087 Apartments for rent in Financial District
With an average one-bedroom rent of $4,087, theFinancial District is the third most expensive neighborhood in Boston. This neighborhood has plenty of historic buildings in styles like Georgian and Federal, as well as properties with picturesque views of Boston Harbor. Financial District is also near the highway and subway stations, making it a convenient location for commuters. If you’re looking for a relaxing afternoon, you can find the Norman B. Leventhal Park and Rose Fitzgerald Kennedy Greenway or museums like the Boston Tea Party Ships & Museum.
4. D Street – West Broadway
Average 1-bedroom rent: $4,025 Apartments for rent in D Street – West Broadway
D Street – West Broadway is the next most expensive neighborhood in Boston. This neighborhood is known for its central location near the Boston Convention and Exhibition Center and the Boston Tea Party Ships & Museum. One of Boston’s charming neighborhoods, it’s no wonder that this is a popular area. D Street – West Broadway has a lot of shops and restaurants, reflecting Boston’s vibe. Make sure to check out places like Amrheins, Lincoln Tavern & Restaurant, and Harpoon Brewery & Beer Hall.
5. Seaport District
Average 1-bedroom rent: $3,972 Apartments for rent in Seaport District
Just about 2 miles from Downtown, Seaport District is a stellar neighborhood if you want to live close to Downtown Boston and the waterfront. While more expensive, the perks of living in the Seaport District may help offset the costs. For example, you can live in Boston without a car as the Seaport District is near subway routes. You can also walk to attractions like Fan Pier Park, Pier 4, and Leader Bank Pavilion. The views in the Seaport District are also gorgeous, as you can see the Boston Harbor.
6. Back Bay
Average 1-bedroom rent: $3,945 Apartments for rent in Back Bay
Next up is Back Bay, the sixth most expensive neighborhood in Boston. Back Bay is full of history and charm with tree-lined streets, historic brick buildings, and museums like Newbury Street and Trinity Church. This area has plenty of parks, restaurants, and attractions, like the Boston Public Library, so you’ll have lots to explore. Make sure to enjoy the outdoors at the Charles River Esplanade or grab a meal at one of the neighborhood restaurants like Saltie Girl and Joe’s on Newbury. It’s no wonder the rents are above Boston’s average.
7. Prudential – St. Botolph
Average 1-bedroom rent: $3,945 Apartments for rent in Prudential – St. Botolph
Located in the Back Bay area, Prudential – St. Botolph is the next neighborhood on our list. Prudential – St. Botolph has a bustling atmosphere with venues, local cafes, and restaurants, such as The Friendly Toast and Flour Bakery + Cafe. The area is well-known for its shopping centers like Prudential Center and Copley Place, so make sure to explore all the stores. You can also check out some of Prudential – St. Botolph’s green spaces like Titus Sparrow Park.
8. West Fens
Average 1-bedroom rent: $3,925 Apartments for rent in West Fens
West Fens takes the eighth spot on our list of most expensive neighborhoods in Boston. The average rent for a one-bedroom unit is roughly $200 more than the city’s average. West Fens is a great option if you’re looking to be near attractions like Fenway Park, MGM Music Hall at Fenway, and James P. Kelleher Rose Garden. The area has plenty of local restaurants and shops, particularly along Boylston Avenue. West Fens is also great if you don’t have a car, as there are plenty of transit stops in the area. It’s also near some of the most affordable neighborhoods in Boston.
9. Harrison Lenox
Average 1-bedroom rent: $3,912 Apartments for rent in Harrison Lenox
A well-loved Boston neighborhood, Harrison Lenox is the next area. Harrison Lenox is home to the Boston University School of Medicine and the Frederick Douglass Square Historic District. You’ll find there are countless historic buildings in Harrison Lenox, so make sure to explore the area’s charm. You can also check out the SoWa Open Market, a Sunday farmers’ market that operates from May to October. If you need to commute to work, there are many options, as the Massachusetts Turnpike is nearby.
10. Back Bay East
Average 1-bedroom rent: $3,900 Apartments for rent in Back Bay East
The tenth most expensive neighborhood in Boston is Back Bay East. This area has a vibrant feeling with its popular restaurants and quirky shops, like Jonquils Cafe and Bakery, Tatte Bakery & Cafe, and Lolita Back Bay. You can find parks like the Commonwealth Avenue Mall and the Charles River Esplanade, perfect for enjoying a sunny day in Boston. Back Bay East is also close to the Boston Marathon finish line, providing residents with lots of opportunities to enjoy their neighborhood.
11. Central
Average 1-bedroom rent: $3,891 Apartments for rent in Central
Number 11 on our list is Central, which encompasses several areas like Downtown, West End, and the Waterfront. This neighborhood is fantastic if you’re looking for a neighborhood with charming streets and historic landmarks. There are plenty of cozy cafes and lively restaurants alongside major attractions like the Old State House, Faneuil Hall Marketplace, and the Paul Revere House. This is an excellent area if you’re looking to be close to plenty of activities and immerse yourself in Boston’s history.
12. Downtown
Average 1-bedroom rent: $3,872 Apartments for rent in Downtown
Taking the 12th spot is Downtown Boston. The average rent for a one-bedroom apartment is $3,872, compared to the city’s average of $3,000. Downtown’s expensive rent may be offset by its famous attractions like Faneuil Hall, the Quincy Market, the Boston Athenaeum, and the New England Aquarium. The convenience of these activities might be worth it to move to the neighborhood. You can find countless hidden gems, historic spots, and famous restaurants in the neighborhood – all showcasing Boston’s charming heritage.
13. Shawmut
Average 1-bedroom rent: $3,823 Apartments for rent in Shawmut
Shawmut is a popular area to consider living in Boston, which is close to Downtown. With attractions like Tremont Street and Peter’s Park and an average one-bedroom rent of $3,823, there are many reasons this expensive area may be for you. Be sure to check out nearby neighborhoods like Columbus and South End to get the most out of the area.
14. South End
Average 1-bedroom rent: $3,803 Apartments for rent in South End
Taking the final spot on our list of expensive neighborhoods in Boston is the South End. This area has an average one-bedroom rent of $3,803, meaning it’s closer in price to the city’s average. If you plan to rent in the South End, make sure to check out the SoWa Open Market and the South End Buttery to immerse yourself in the neighborhood’s vibrant atmosphere. You’ll never tire of exploring the charming streets filled with Victorian-style row homes, galleries, and pubs.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in March 2024.
The following is a sponsored partnership with Kudos. Have you heard about Kudos – the free AI-powered wallet that helps you get more out of your credit cards? In this Kudos Review 2024, I’ll explain how this desktop browser extension and iPhone app helps you earn the maximum rewards and benefits when shopping online. With…
The following is a sponsored partnership with Kudos.
Have you heard about Kudos – the free AI-powered wallet that helps you get more out of your credit cards? In this Kudos Review 2024, I’ll explain how this desktop browser extension and iPhone app helps you earn the maximum rewards and benefits when shopping online. With the average Kudos member earning $750 per year, you won’t want to miss out on this game-changing tool!
With Kudos, you can always choose the best card for maximum rewards at checkout, easily autofill your card information (including CCV) with just one click, find new cards that match your shopping preferences, and more.
Plus, Kudos has helped its members earn $150 million in rewards and counting!
The best part? Kudos is completely free. That’s right—no hidden fees. Just shop like you normally do, and Kudos automatically helps you during checkout to maximize your rewards.
If you don’t want to leave money on the table, there’s no reason not to use Kudos to take the guesswork out of deciding which credit card to use for each online purchase.
Personally, I find Kudos incredibly helpful. As someone with multiple rewards credit cards, each with their own unique benefits, Kudos saves me a ton of time by instantly identifying the best card to use for each transaction. This not only simplifies my life but also helps me earn more money!
This is great so that you are using the full potential of your credit cards.
And, even if you only have one credit card, Kudos is still helpful! This is because, at many online stores, you can still double your rewards for using the Kudos browser extension and earn points to put towards free gift cards.
You can download Kudos for free by clicking here.Plus, use code “CENTS” to earn $20 back after your first eligible Boost purchase.
Key Takeaways from this Kudos Review 2024
Kudos is a free AI-powered wallet that maximizes your credit card rewards when you shop online, whether you’re buying groceries, clothing, travel packages, furniture, or anything else—all with a single click.
With Kudos, you no longer have to guess which credit card to use for each purchase. Just shop like normal and Kudos will automatically recommend the best card to make sure you always earn the highest cashback, points, or miles on every transaction.
Kudos supports over 2 million stores, so you’re virtually guaranteed to find your favorite retailers and maximize your rewards with them.
Even if your credit card doesn’t typically offer rewards, you can still earn rewards by shopping through the Kudos browser extension at participating merchants.
Kudos is compatible with all major desktop browsers (Chrome, Safari, Edge) and is also available as an iPhone app, making it easy to boost your credit card rewards across every device.
Kudos Review 2024
Below is my Kudos review.
What is Kudos?
Kudos (also known as Kudos Technologies, Inc.) is a helpful AI-powered browser extension and app designed to help you make the most of your credit cards, particularly when shopping online. It was founded by Tikue Anazodo and Ahmad Ismail, and Kudos has been featured on Forbes, Yahoo Finance, Bloomberg, The Motley Fool, Nasdaq, and more.
Think of it as a smart wallet for your browser. Driven by the complex world of credit card rewards, the Kudos team created this tool to simplify the process.
Here’s how it shines: Select the cards you commonly use (without the need for any sensitive bank details) and Kudos tells you which one to use at checkout. You see, your cards might be packed with potential rewards for different spending categories—travel, groceries, or dining.
Different credit cards have so many different benefits (such as the rewards percentage, extended warranties, purchase protection, insurance, and more), which can be difficult to keep track of.
Kudos makes sure you’re using the best card possible to earn the most rewards, which is especially useful if you have more than one rewards credit card.
Members have collectively earned over $150 million in rewards with Kudos. On a personal level, you could boost your annual shopping rewards by an average of $750 just by using Kudos.
Plus, Kudos is super user-friendly. You can add it to your preferred desktop browser (Chrome, Safari, Edge) or use it on your iPhone, and it’s completely free. The service makes money by earning a small commission when you shop at participating stores or sign up for a card through their recommendations.
When you shop without Kudos, you could be missing out on opportunities to earn rewards with your purchases. Why miss out on potential earnings when Kudos provides a free and simple solution?
Kudos also has a really helpful Instagram account full of helpful credit card tips. I highly recommend checking that out here.
How Kudos works
Imagine you’re online shopping, ready to checkout, and you pause, thinking, which credit card do I use? That’s where Kudos steps in, always there to give you the best advice.
Kudos knows your cards and suggests which one to use at checkout. But how? First, you add your credit cards to the Kudos wallet. It’s safe and simple. When it’s time to buy something, Kudos pops up and says, “Hey, use this card!” Why? Because it’s the card that will give you the most rewards or savings for that purchase.
Here are the steps to get started:
Download the Kudos browser extension (takes less than a minute to do) on your desktop browser (Chrome, Safari, Edge) or iPhone. You’ll also answer basic questions like your name and the type of credit card you have (such as the Chase Freedom card).
Shop like you normally do.
Once you’re ready to checkout, Kudos will automatically appear to let you know which credit card you should use to get the most rewards and benefits.
Click the card you want to use and Kudos will then autofill the card info, making checkout a breeze.
What stores does Kudos work on?
Kudos works at over 2 million online stores and with over 3,000 credit cards – so there’s a very good chance that it’ll work for you.
Don’t see a store supported or can’t find your card? Their support team is super responsive and will help you out!
Kudos vs. other rewards tools: What sets Kudos apart?
When it comes to maximizing credit card rewards, Kudos stands out from other popular tools like Rakuten, Honey, and Capital One Shopping.
While these platforms primarily focus on providing cashback offers or coupon codes, Kudos takes a more comprehensive approach to optimize your entire credit card strategy.
What sets Kudos apart is its AI-powered technology that analyzes your specific credit cards and spending habits to recommend the best card for each purchase.
This makes sure that you’re not only earning cashback but also maximizing your points, miles, and other card-specific perks. By considering factors like bonus categories, statement credits, and exclusive benefits, Kudos helps you get the most value out of your credit cards.
Key Features of Kudos
When shopping online, you want to stretch your dollar as far as it can go. Kudos has features that make this easy by helping you get the most out of your credit cards such as:
Maximize your credit card rewards
When you’re shopping online, Kudos helps you pick the best card to use to maximize your rewards and benefits.
With Kudos, you no longer have to guess which credit card to use. This AI-powered wallet automatically recommends the best card for each purchase, making sure you always receive the highest cashback, points, or miles possible.
I personally didn’t even know that one of my credit cards had some of the benefits that Kudos listed, and I can’t believe I had been wasting so much money by skipping out on such a valuable benefit! Kudos makes it very easy for me to see my card’s benefits all in one easy place.
Plus, if you’d like, you can add your credit card information to Kudos, and Kudos will autofill your card info (including CCV) to make checking out fast.
Another way that Kudos helps you earn more rewards is because Kudos helps you build your Dream Wallet so you can get the most out of your everyday purchases. You’ll go through a quick quiz to help Kudos gather information about your needs.
Double your rewards with Kudos Boost
With Kudos, you can increase the amount you can get in credit card rewards with just one click.
If you usually earn 4% cash back when shopping at sites like Walmart or Sephora, you’ll now earn a total of 8% back with Kudos Boost. The best part? You can earn Boost at participating stores even if your card doesn’t offer its own rewards.
Kudos Boost are reward points you earn by shopping at Boost merchants.
It works like this:
Shop at one of Kudos’ 15,000 participating Boost merchants
Click “Activate Boost” on the bottom right corner of the screen
Use Kudos at checkout – At checkout, Kudos will find your best credit card to use, autofill the payment forms, and match your credit card rewards.
Redeem rewards for a gift card
You’ll receive an email from Kudos around 1-2 days after completing an eligible transaction. After the store confirms your purchase it usually takes between 60 to 120 days for your rewards to be available, and you can then find your rewards on your Activity page on Kudos.
When you’ve earned 1,000 Kudos Boost points (equal to $10.00 USD), you can exchange them for an Amazon gift card.
Receive personalized credit card recommendations
Stop wasting time opening up credit card application pages on incognito. You can receive access to elevated card offers on Kudos’ Explore Tool through their partnership with The Points Guy.
So, if you are looking for a new credit card, use Kudos to help filter the best one for you and your situation and compare different cards in one easy place.
For example, Kudos member Christina L. was able to get 150,000 Membership Rewards points after spending $6,000 on the Amex Platinum card within the first three months of account opening. That’s almost double the 80,000 points after spending $8,000 found on the American Express website!
Answer all your credit card questions with MariaGPT
Maria GPT is an AI-powered, personalized assistant designed to answer all your credit card questions, available on the Kudos mobile app.
She can help you understand the benefits of your current cards and offer personalized suggestions for new cards based on your spending habits, goals, and objectives.
Frequently Asked Questions about Kudos Review 2024
Below are common questions about Kudos, the free AI-powered wallet.
Is Kudos free to use?
Kudos is free to use.
How does Kudos make money?
Kudos earns a small affiliate commission when you make an online purchase at one of their participating merchants. Additionally, if you use the Kudos Explore Tool to apply for a new credit card, Kudos may receive a payment from the credit card issuer.
Is there a Kudos referral code?
Yes! Sign-up for Kudos for free and use the Kudos referral code “CENTS” to earn $20.00 back after your first eligible Boost purchase.
How much can you earn with Kudos?
On average, Kudos members earn $750 per year in rewards by using the app to maximize their earnings.
Do I need to provide my credit card numbers to use Kudos?
No, you don’t need to enter your credit card numbers to use Kudos. Simply select the cards you have in your wallet, and Kudos will help you maximize your benefits at checkout. Providing your credit card information is optional if you want to speed up the checkout process.
Can I use Kudos with other browser extensions?
If you use Kudos Boost and then activate another rewards program like Rakuten, Honey, Capital One Shopping, or others during the same shopping session, Kudos may not be able to earn an affiliate commission. To make sure you get maximum rewards, it’s best to use Kudos exclusively during your online shopping.
Is Kudos wallet legit?
Yes, Kudos is a legitimate browser extension and app used by over 200,000 shoppers who have earned over $150 million in rewards. You can find genuine user reviews on trusted platforms like Trustpilot, Chrome Web Store (4.8/5 stars from 667+ reviews), and the Apple App Store (4.7/5 stars from 3,500+ reviews).
Is Kudos safe and secure?
Yes, Kudos prioritizes user security and employs industry-leading protocols, including bank-grade 256-bit encryption, to safeguard your data. Kudos handles your personal and financial information with the utmost care and never sells or shares it with third parties. You can feel confident and secure when using the Kudos browser extension and app.
My Kudos Review 2024: Final Thoughts
I hope you found this Kudos review informative and helpful in understanding how this AI-powered wallet can help you maximize your credit card rewards.
Navigating the world of credit card rewards can be overwhelming, but Kudos simplifies the process with its intelligent recommendations. By analyzing a database of over 3,000 cards, Kudos ensures you always use the best card for each purchase, boosting your rewards effortlessly.
In addition to its AI-driven recommendations, Kudos streamlines your online shopping experience with a one-click autofill feature. This not only saves you time but also guarantees that you’re always using the card with the most advantageous benefits for each transaction.
Personally, I find Kudos to be a must-have shopping tool. As someone with multiple rewards credit cards, each with their own unique perks, trying to determine which card to use for every purchase can be time-consuming and confusing. Kudos eliminates this hassle by automatically identifying the best card for each transaction, allowing me to maximize my rewards efficiently.
Even if you only have a single credit card, Kudos can still help you earn more rewards. By shopping through the Kudos browser extension at thousands of participating online stores, you can accumulate points that can be redeemed for free gift cards. This means that regardless of how many credit cards you have, Kudos enables you to optimize your rewards earning potential.
Kudos also helps users find new credit cards through its partnership with The Points Guy, a well-known credit card rewards and travel website. By using the CardMatch service, Kudos helps users find the best credit card offers tailored to their specific needs and spending habits. This feature is particularly useful for those looking to expand their credit card portfolio and maximize their rewards earning potential across multiple cards.
You can sign up for Kudos for free by clicking here.
Do you use Kudos? What other questions do you have for this Kudos review?
The number of U.S. citizens flying to international destinations reached nearly 6.5 million passengers in March, according to the International Trade Administration. That’s the highest March total in over five years and shows that the post-pandemic “revenge travel” trend is the new normal.
It wasn’t just March, which usually sees a spike in international departures for spring break. In every month of 2024 so far, more Americans left the country than last year and 2019. These trends point to a blockbuster summer for overseas travel.
Nearly half of Americans (45%) plan to travel by air and/or stay in a hotel this summer and expect to spend $3,594 on average, on these expenses, according to a survey of 2,000 U.S. adults, conducted online by The Harris Poll and commissioned by NerdWallet.
That’s despite rising travel prices that have caused some hesitancy among would-be travelers. About 22% of those choosing not to travel this summer cite inflation making travel too expensive as a reason for staying home, according to the poll.
So where are traveling Americans going? And what does it mean for those looking to avoid crowds of tourists and higher travel prices?
New travel patterns
Nearly every region in the world saw an increase in U.S. visitors in March 2024 compared with March 2023, according to International Trade Administration data. Only the Middle East saw a decline of 9%. Yet not every region saw the same year-over-year bump. U.S. visitors to Asia saw a 33% jump, while Oceania and Central America each saw a 30% increase.
Comparing 2024 with 2023 only tells part of the story, however. The new patterns really emerge when comparing international travel trends to 2019. For example, Central America received 50% more U.S. visitors in March 2024 compared with March 2019. Nearly 1.5 million Americans visited Mexico, up 39% compared with before the pandemic. That’s almost as many visitors as the entire continent of Europe, which has seen a more modest 10% increase since 2019.
Only Canada and Oceania saw fewer visitors in March 2024 than in 2019, suggesting that interest in these locations has not rebounded. Indeed, the trends indicate a kind of tourism inertia from COVID-19 pandemic-era lockdowns: Those destinations that were more open to U.S. visitors during the pandemic, such as Mexico, have remained popular, while those that were closed, such as Australia, have fallen off travelers’ radars.
Price pressures
How these trends play out throughout the rest of the year will depend on a host of factors. Yet, none will likely prove more important than affordability. After months of steadiness, the cost of travel, including airfare, hotels and rental cars, has begun to sneak up again.
About 45% of U.S. travelers say cost is their main consideration when planning their summer vacation, according to a survey of 2,000 Americans by the travel booking platform Skyscanner.
That’s likely to weigh further on U.S. travelers’ appetite for visiting expensive destinations such as Europe, while encouraging travel to budget-friendly countries. It could also depress overall international travel as well, yet so far, Americans seem to be traveling more.
For those looking to avoid crowds while maintaining a budget, Skyscanner travel trends expert Laura Lindsay offered a recommendation many of us might need help finding on a map.
“Albania has been on the radar of travelers looking for something different,” Lindsay said. “Most people have yet to discover it, but flights and tourism infrastructure are in place, and there are fewer crowds in comparison to trending European destinations like Italy, Greece, or Portugal.”
On the flip side, American travelers looking to avoid crowds of compatriots would do well to avoid Japan, which has seen a staggering 50% increase in U.S. tourists between March 2019 and 2024.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:
For Policyowners residing in Maryland: Northwestern Mutual extends its support to families and businesses affected by the Francis Scott Key Bridge collapse and the reduced operations of the Port of Baltimore. Affected Maryland policyowners can contact us at (866) 950-4644 to request premium relief if they are having difficulties meeting premium payments as a result … [Read more…]
Average mortgage rates inched lower yesterday. But all that did was wipe out last Friday’s similarly tiny rise.
Earlier this morning, markets were signaling that mortgage rates today might barely budge. However, these early mini-trends often alter direction or speed as the hours pass.
Current mortgage and refinance rates
Find your lowest rate. Start here
Program
Mortgage Rate
APR*
Change
Conventional 30-year fixed
7.302%
7.353%
+0.01
Conventional 15-year fixed
6.757%
6.836%
+0.01
30-year fixed FHA
7.064%
7.111%
-0.07
5/1 ARM Conventional
6.888%
8.036%
+0.12
Conventional 20-year fixed
7.199%
7.257%
+0.05
Conventional 10-year fixed
6.663%
6.737%
+0.06
30-year fixed VA
7.292%
7.332%
+0.01
Rates are provided by our partner network, and may not reflect the market. Your rate might be different. Click here for a personalized rate quote. See our rate assumptions See our rate assumptions here.
Should you lock your mortgage rate today?
This morning’s Financial Times reports, “While the base case remains a reduction in borrowing costs, the options market shows a 20% probability of an increase.” That means most investors think the Federal Reserve will cut general interest rates this year, but they reckon there’s a 20% chance of the central bank actually hiking them. That’s new and scary.
Although the Fed doesn’t directly determine mortgage rates it has a huge influence on the bond market that does. And I very much doubt mortgage rates will fall consistently before the Fed signals that a cut in general interest rates is imminent. And a Fed rate hike is likely to send mortgage rates much higher: maybe back up to 8% or beyond.
So my personal rate lock recommendations remain:
LOCK if closing in 7 days
LOCK if closing in 15 days
LOCK if closing in 30 days
LOCK if closing in 45 days
LOCKif closing in 60days
However, with so much uncertainty at the moment, your instincts could easily turn out to be as good as mine — or better. So, let your gut and your own tolerance for risk help guide you.
>Related: 7 Tips to get the best refinance rate
Market data affecting today’s mortgage rates
Here’s a snapshot of the state of play this morning at about 9:50 a.m. (ET). The data are mostly compared with roughly the same time the business day before, so much of the movement will often have happened in the previous session. The numbers are:
The yield on 10-year Treasury notes edged down to 4.6% from 4.64%. (Good for mortgage rates.) More than any other market, mortgage rates typically tend to follow these particular Treasury bond yields
Major stock indexes were rising this morning. (Bad for mortgage rates.) When investors buy shares, they’re often selling bonds, which pushes those prices down and increases yields and mortgage rates. The opposite may happen when indexes are lower. But this is an imperfect relationship
Oil prices decreased to $81.59 from $82.06 a barrel. (Good for mortgage rates*.) Energy prices play a prominent role in creating inflation and also point to future economic activity
Goldprices fell to $2,333 from $2,350 an ounce. (Neutral for mortgage rates*.) It is generally better for rates when gold prices rise and worse when they fall. Because gold tends to rise when investors worry about the economy.
CNN Business Fear & Greed index — climbed to 40 from 33 out of 100. (Bad for mortgage rates.) “Greedy” investors push bond prices down (and interest rates up) as they leave the bond market and move into stocks, while “fearful” investors do the opposite. So, lower readings are often better than higher ones
*A movement of less than $20 on gold prices or 40 cents on oil ones is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.
Caveats about markets and rates
Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.
So, use markets only as a rough guide. Because they have to be exceptionally strong or weak to rely on them. But, with that caveat, mortgage rates today look likely to be unchanged or close to unchanged. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.
Find your lowest rate. Start here
What’s driving mortgage rates today?
Today
This morning’s two April purchasing managers’ indexes (PMIs) will likely be good for mortgage rates. These “flashes” (initial readings and subject to revision) are both from S&P.
Here are this morning’s actual numbers in bold, alongside the prepublication consensus forecasts, according to MarketWatch, together with the March actual figures:
Services PMI — 50.9 actual; 52 expected; 51.7 in March
Manufacturing PMI — 51.1 actual; 52 expected; 51.9 in March
You can see that the PMIs were worse than expected, which is typically good news for mortgage rates.
Tomorrow
Tomorrow’s durable goods orders for March rarely affect mortgage rates. And they’d need to contain some pretty shocking data to do so tomorrow.
Markets are expecting those orders to have risen by 2.6% in March compared to a 1.3% increase in February. They’ll probably need to be significantly higher than 2.% to exert upward pressure on mortgage rates and appreciably lower to push them downward.
The rest of this week
Nothing has changed since yesterday concerning economic reports due on Thursday and Friday. So, I’ll repeat what I wrote yesterday:
We’re due the first reading of gross domestic product (GDP) for the January-March quarter on Thursday. And that could have a larger effect than PMIs and durable goods orders, depending on the gap between expectations and actuals.
But Friday’s personal consumption expenditures (PCE) price index for March is this week’s star report. That’s the Federal Reserve’s favorite gauge of inflation. And it could certainly affect mortgage rates, possibly appreciably.
The next meeting of the Fed’s rate-setting committee is scheduled to start on Apr. 30 and last two days. So, the PCE price index will be the last inflation report it sees before making decisions.
And index that shows inflation cooling could change the mood at that meeting. True, it’s vanishingly unlikely that a cut to general interest rates will be unveiled on May 1 no matter what.
But a PCE price index that shows inflation cooling could help the Fed to move forward with cuts earlier than expected, which should cause mortgage rates to fall. Unfortunately, one that suggests inflation remains hot or is getting hotter could send those rates higher.
I’ll brief you more fully on each potentially significant report on the day before it’s published.
Don’t forget you can always learn more about what’s driving mortgage rates in the most recent weekend edition of this daily report. These provide a more detailed analysis of what’s happening. They are published each Saturday morning soon after 10 a.m. (ET) and include a preview of the following week.
Recent trends
According to Freddie Mac’s archives, the weekly all-time lowest rate for 30-year, fixed-rate mortgages was set on Jan. 7, 2021, when it stood at 2.65%. The weekly all-time high was 18.63% on Sep. 10, 1981.
Freddie’s Apr. 18 report put that same weekly average at 7.1%, up from the previous week’s 6.88%. But note that Freddie’s data are almost always out of date by the time it announces its weekly figures.
Expert forecasts for mortgage rates
Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.
And here are their rate forecasts for the four quarters of 2024 (Q1/24, Q2/24 Q3/24 and Q4/24).
The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie’s were updated on Mar. 19 and the MBA’s on Apr. 18.
Forecaster
Q1/24
Q2/24
Q3/24
Q4/24
Fannie Mae
6.7%
6.7%
6.6%
6.4%
MBA
6.8%
6.7%
6.6%
6.4%
Of course, given so many unknowables, both these forecasts might be even more speculative than usual. And their past record for accuracy hasn’t been wildly impressive.
Important notes on today’s mortgage rates
Here are some things you need to know:
Typically, mortgage rates go up when the economy’s doing well and down when it’s in trouble. But there are exceptions. Read ‘How mortgage rates are determined and why you should care’
Only “top-tier” borrowers (with stellar credit scores, big down payments, and very healthy finances) get the ultralow mortgage rates you’ll see advertised
Lenders vary. Yours may or may not follow the crowd when it comes to daily rate movements — though they all usually follow the broader trend over time
When daily rate changes are small, some lenders will adjust closing costs and leave their rate cards the same
Refinance rates are typically close to those for purchases.
A lot is going on at the moment. And nobody can claim to know with certainty what will happen to mortgage rates in the coming hours, days, weeks or months.
Find your lowest mortgage rate today
You should comparison shop widely, no matter what sort of mortgage you want. Federal regulator the Consumer Financial Protection Bureau found in May 2023:
“Mortgage borrowers are paying around $100 a month more depending on which lender they choose, for the same type of loan and the same consumer characteristics (such as credit score and down payment).”
In other words, over the lifetime of a 30-year loan, homebuyers who don’t bother to get quotes from multiple lenders risk losing an average of $36,000. What could you do with that sort of money?
Verify your new rate
Mortgage rate methodology
The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.
How your mortgage interest rate is determined
Mortgage and refinance rates vary a lot depending on each borrower’s unique situation.
Factors that determine your mortgage interest rate include:
Overall strength of the economy — A strong economy usually means higher rates, while a weaker one can push current mortgage rates down to promote borrowing
Lender capacity — When a lender is very busy, it will increase rates to deter new business and give its loan officers some breathing room
Property type (condo, single-family, town house, etc.) — A primary residence, meaning a home you plan to live in full time, will have a lower interest rate. Investment properties, second homes, and vacation homes have higher mortgage rates
Loan-to-value ratio (determined by your down payment) — Your loan-to-value ratio (LTV) compares your loan amount to the value of the home. A lower LTV, meaning a bigger down payment, gets you a lower mortgage rate
Debt-To-Income ratio — This number compares your total monthly debts to your pretax income. The more debt you currently have, the less room you’ll have in your budget for a mortgage payment
Loan term — Loans with a shorter term (like a 15-year mortgage) typically have lower rates than a 30-year loan term
Borrower’s credit score — Typically the higher your credit score is, the lower your mortgage rate, and vice versa
Mortgage discount points — Borrowers have the option to buy discount points or ‘mortgage points’ at closing. These let you pay money upfront to lower your interest rate
Remember, every mortgage lender weighs these factors a little differently.
To find the best rate for your situation, you’ll want to get personalized estimates from a few different lenders.
Verify your new rate. Start here
Are refinance rates the same as mortgage rates?
Rates for a home purchase and mortgage refinance are often similar.
However, some lenders will charge more for a refinance under certain circumstances.
Typically when rates fall, homeowners rush to refinance. They see an opportunity to lock in a lower rate and payment for the rest of their loan.
This creates a tidal wave of new work for mortgage lenders.
Unfortunately, some lenders don’t have the capacity or crew to process a large number of refinance loan applications.
In this case, a lender might raise its rates to deter new business and give loan officers time to process loans currently in the pipeline.
Also, cashing out equity can result in a higher rate when refinancing.
Cash-out refinances pose a greater risk for mortgage lenders, so they’re often priced higher than new home purchases and rate-term refinances.
Check your refinance rates today. Start here
How to get the lowest mortgage or refinance rate
Since rates can vary, always shop around when buying a house or refinancing a mortgage.
Comparison shopping can potentially save thousands, even tens of thousands of dollars over the life of your loan.
Here are a few tips to keep in mind:
1. Get multiple quotes
Many borrowers make the mistake of accepting the first mortgage or refinance offer they receive.
Some simply go with the bank they use for checking and savings since that can seem easiest.
However, your bank might not offer the best mortgage deal for you. And if you’re refinancing, your financial situation may have changed enough that your current lender is no longer your best bet.
So get multiple quotes from at least three different lenders to find the right one for you.
2. Compare Loan Estimates
When shopping for a mortgage or refinance, lenders will provide a Loan Estimate that breaks down important costs associated with the loan.
You’ll want to read these Loan Estimates carefully and compare costs and fees line-by-line, including:
Interest rate
Annual percentage rate (APR)
Monthly mortgage payment
Loan origination fees
Rate lock fees
Closing costs
Remember, the lowest interest rate isn’t always the best deal.
Annual percentage rate (APR) can help you compare the ‘real’ cost of two loans. It estimates your total yearly cost including interest and fees.
Also, pay close attention to your closing costs.
Some lenders may bring their rates down by charging more upfront via discount points. These can add thousands to your out-of-pocket costs.
3. Negotiate your mortgage rate
You can also negotiate your mortgage rate to get a better deal.
Let’s say you get loan estimates from two lenders. Lender A offers the better rate, but you prefer your loan terms from Lender B. Talk to Lender B and see if they can beat the former’s pricing.
You might be surprised to find that a lender is willing to give you a lower interest rate in order to keep your business.
And if they’re not, keep shopping — there’s a good chance someone will.
Fixed-rate mortgage vs. adjustable-rate mortgage: Which is right for you?
Mortgage borrowers can choose between a fixed-rate mortgage and an adjustable-rate mortgage (ARM).
Fixed-rate mortgages (FRMs) have interest rates that never change unless you decide to refinance. This results in predictable monthly payments and stability over the life of your loan.
Adjustable-rate loans have a low interest rate that’s fixed for a set number of years (typically five or seven). After the initial fixed-rate period, the interest rate adjusts every year based on market conditions.
With each rate adjustment, a borrower’s mortgage rate can either increase, decrease, or stay the same. These loans are unpredictable since monthly payments can change each year.
Adjustable-rate mortgages are fitting for borrowers who expect to move before their first rate adjustment, or who can afford a higher future payment.
In most other cases, a fixed-rate mortgage is typically the safer and better choice.
Remember, if rates drop sharply, you are free to refinance and lock in a lower rate and payment later on.
How your credit score affects your mortgage rate
You don’t need a high credit score to qualify for a home purchase or refinance, but your credit score will affect your rate.
This is because credit history determines risk level.
Historically speaking, borrowers with higher credit scores are less likely to default on their mortgages, so they qualify for lower rates.
So, for the best rate, aim for a credit score of 720 or higher.
Mortgage programs that don’t require a high score include:
Conventional home loans — minimum 620 credit score
FHA loans — minimum 500 credit score (with a 10% down payment) or 580 (with a 3.5% down payment)
VA loans — no minimum credit score, but 620 is common
USDA loans — minimum 640 credit score
Ideally, you want to check your credit report and score at least 6 months before applying for a mortgage. This gives you time to sort out any errors and make sure your score is as high as possible.
If you’re ready to apply now, it’s still worth checking so you have a good idea of what loan programs you might qualify for and how your score will affect your rate.
You can get your credit report from AnnualCreditReport.com and your score from MyFico.com.
How big of a down payment do I need?
Nowadays, mortgage programs don’t require the conventional 20 percent down.
Indeed, first-time home buyers put only 6 percent down on average.
Down payment minimums vary depending on the loan program. For example:
Conventional home loans require a down payment between 3% and 5%
FHA loans require 3.5% down
VA and USDA loans allow zero down payment
Jumbo loans typically require at least 5% to 10% down
Keep in mind, a higher down payment reduces your risk as a borrower and helps you negotiate a better mortgage rate.
If you are able to make a 20 percent down payment, you can avoid paying for mortgage insurance.
This is an added cost paid by the borrower, which protects their lender in case of default or foreclosure.
But a big down payment is not required.
For many people, it makes sense to make a smaller down payment in order to buy a house sooner and start building home equity.
Verify your new rate. Start here
Choosing the right type of home loan
No two mortgage loans are alike, so it’s important to know your options and choose the right type of mortgage.
The five main types of mortgages include:
Fixed-rate mortgage (FRM)
Your interest rate remains the same over the life of the loan. This is a good option for borrowers who expect to live in their homes long-term.
The most popular loan option is the 30-year mortgage, but 15- and 20-year terms are also commonly available.
Adjustable-rate mortgage (ARM)
Adjustable-rate loans have a fixed interest rate for the first few years. Then, your mortgage rate resets every year.
Your rate and payment can rise or fall annually depending on how the broader interest rate trends.
ARMs are ideal for borrowers who expect to move prior to their first rate adjustment (usually in 5 or 7 years).
For those who plan to stay in their home long-term, a fixed-rate mortgage is typically recommended.
Jumbo mortgage
A jumbo loan is a mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac.
In 2023, the conforming loan limit is $726,200 in most areas.
Jumbo loans are perfect for borrowers who need a larger loan to purchase a high-priced property, especially in big cities with high real estate values.
FHA mortgage
A government loan backed by the Federal Housing Administration for low- to moderate-income borrowers. FHA loans feature low credit score and down payment requirements.
VA mortgage
A government loan backed by the Department of Veterans Affairs. To be eligible, you must be active-duty military, a veteran, a Reservist or National Guard service member, or an eligible spouse.
VA loans allow no down payment and have exceptionally low mortgage rates.
USDA mortgage
USDA loans are a government program backed by the U.S. Department of Agriculture. They offer a no-down-payment solution for borrowers who purchase real estate in an eligible rural area. To qualify, your income must be at or below the local median.
Bank statement loan
Borrowers can qualify for a mortgage without tax returns, using their personal or business bank account as evidence of their financial circumstances. This is an option for self-employed or seasonally-employed borrowers.
Portfolio/Non-QM loan
These are mortgages that lenders don’t sell on the secondary mortgage market. And this gives lenders the flexibility to set their own guidelines.
Non-QM loans may have lower credit score requirements or offer low-down-payment options without mortgage insurance.
Choosing the right mortgage lender
The lender or loan program that’s right for one person might not be right for another.
Explore your options and then pick a loan based on your credit score, down payment, and financial goals, as well as local home prices.
Whether you’re getting a mortgage for a home purchase or a refinance, always shop around and compare rates and terms.
Typically, it only takes a few hours to get quotes from multiple lenders. And it could save you thousands in the long run.
Time to make a move? Let us find the right mortgage for you
Current mortgage rates methodology
We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.
With its beautiful parks, aerospace history, arts scene, and renowned sports teams, Houston, TX, is a fantastic city to call home. From attractions like the Houston Zoo and the NASA Johnson Space Center to the Bayou Music Center and the Houston Arboretum & Nature Center, Houston has plenty of neighborhoods near these popular attractions.
If you’re looking to rent an apartment in Houston, you’ll find that the average rent for a one-bedroom apartment is $1,256. Whether you’re in search of a luxurious apartment or simply curious about Houston’s most expensive neighborhoods, ApartmentGuide has got you covered. We’ve gathered the 11 most expensive neighborhoods in Houston to consider renting in this year.
11 Expensive Neighborhoods in Houston, TX
From the lively Medical Center to the historic Astrodome, there are plenty of amazing Houston neighborhoods to explore. With its proximity to famous attractions and luxury high-rise options, one of these expensive neighborhoods may be the right place for you.
1. Medical Center 2. Astrodome 3. Midtown 4. South Central Houston 5. Greenway – Upper Kirby 6. Inner Loop 7. Uptown-Galleria 8. Washington Avenue – Memorial Park 9. Great Uptown 10. Greater Heights 11. Montrose
Read on to see what each neighborhood has to offer its residents.
1. Medical Center
Average 1-bedroom rent: $1,999 Apartments for rent in Medical Center
The Medical Center neighborhood is the most expensive neighborhood in Houston, as the average rent for a one-bedroom unit is $1,999. There are plenty of reasons why this neighborhood draws residents. Medical Center is near attractions like the Houston Zoo, Herman Park, and the Houston Museum of Natural Science, making it a prime location to explore the city. The area also has views of the cityscape, making apartment views stunning. For renters living in Houston without a car, the bus and light rail stops in the Medical Center area.
2. Astrodome
Average 1-bedroom rent: $1,676 Apartments for rent in Astrodome
Astrodome is a bustling area that’s south of Medical Center. This beautiful neighborhood is home to lots of attractions like NRG Stadium and the Houston Astrodome. Astrodome is well-known for its nearby green spaces like Hermann Park and the charming shops and cafes along Main Street. The average rent for one-bedroom apartments is $1,676, which is about $400 above the city’s average, making it a pricier neighborhood. However, Astrodome’s busy atmosphere and amenities may be worth it.
3. Midtown
Average 1-bedroom rent: $1,675 Apartments for rent in Midtown
With an average one-bedroom rent of $1,675, Midtown is the third most expensive neighborhood in Houston. This neighborhood has plenty of historic homes in styles like Victorian and Craftsman, as well as modern high-rise buildings. Midtown is also near highways like I-45 and I-69, making it a convenient location for commuters. There are plenty of activities in Midtown, such as the Warehouse Live, MATCH, and the Buffalo Soldiers National Museum. If you’re looking for a relaxing afternoon, Baldwin Park and Midtown Park are in the area.
4. South Central Houston
Average 1-bedroom rent: $1,636 Apartments for rent in South Central Houston
South Central Houston is the next most expensive neighborhood in Houston. This neighborhood is known for its central location near the Houston Museum District and the Medical Center. Home to some of Houston’s most popular neighborhoods, it’s no wonder it’s more expensive to live in South Central Houston. The South Central Houston neighborhood has a lot of shops and restaurants, like Coral Sword and Mandola’s Deli, reflecting Houston’s vibe. There’s always something new to check out in this neighborhood.
5. Greenway – Upper Kirby
Average 1-bedroom rent: $1,594 Apartments for rent in Greenway – Upper Kirby
Just about 5 miles from downtown, Greenway – Upper Kirby is a stellar neighborhood if you want to live close to downtown. While more expensive, the perks of living in Greenway – Upper Kirby may help offset the costs. For example, you can also walk to attractions like the Color Factory, the Menil Collection, and Plaza in the Park. You can also live in this neighborhood without a car, as about seven bus lines go through Greenway – Upper Kirby.
6. Inner Loop
Average 1-bedroom rent: $1,495 Apartments for rent in Inner Loop
Next up is Inner Loop, the sixth most expensive neighborhood in Houston. Inner Loop is full of history and charm with tree-lined streets, historic buildings, and museums. This area also has plenty of parks, restaurants, and attractions, so you’ll have lots to explore. Make sure to enjoy the outdoors at Memorial Park which has walking trails, the Houston Arboretum & Nature Center, and the Bayou Bend Collection and Gardens, Museum of Fine Arts, Houston. It’s no wonder the rents are above Houston’s average. However, you can also find some of the most affordable neighborhoods in Houston nearby.
7. Uptown-Galleria
Average 1-bedroom rent: $1,410 Apartments for rent in Uptown-Galleria
Located west of downtown, Uptown-Galleria is a well-known neighborhood, with its local cafes and restaurants along Westheimer Road, such as The Warwick and the House of Pies. You can also explore The Galleria, a famous Houston shopping center with department stores, museums, and restaurants. Since Uptown-Galleria is located near the Williams Tower and the Water Wall, its upscale lifestyle is one of the many reasons people live here.
8. Washington Avenue – Memorial Park
Average 1-bedroom rent: $1,395 Apartments for rent in Washington Avenue – Memorial Park
Washington Avenue – Memorial Park takes the eighth spot on our list of most expensive neighborhoods in Houston. The average rent for a one-bedroom unit is roughly $150 more than the city’s average. Washington Avenue – Memorial Park is a great option to consider if you’re looking to be near Memorial Park, which has walking trails, biking trails, and a golf course. It’s about 5 miles from downtown, which means you’ll have easy access to the city center without living in the bustling atmosphere. You can find a lot of unique activities in the area, like the popular Washington Avenue with restaurants and shops, the Art Car Museum, Buffalo Bayou Park, and the Bayou Bend Collection and Gardens.
9. Great Uptown
Average 1-bedroom rent: $1,375 Apartments for rent in Great Uptown
A well-loved Houston neighborhood, Great Uptown is the next area. Great Uptown the larger area that includes The Galleria, the Houston Country Club, and Wiess Park, meaning there’s plenty to do throughout the week. You’ll find there are countless historic buildings in Great Uptown, so make sure to explore the area’s charm. If you need to commute to work, there are many options as the Westpark Tollway is nearby.
10. Greater Heights
Average 1-bedroom rent: $1,367 Apartments for rent in Greater Heights
The tenth most expensive neighborhood in Houston is Greater Heights. Also known as The Heights, this area has a vibrant feeling with its venues, popular restaurants, and quirky shops, like The Heights Theatre, Torchy’s Tacos, and Vinyl Edge Records. You can find lots of early 20th-century homes in pastel colors throughout the area, making it a great place to explore. Greater Heights also hosts the White Linen Night event each year, providing residents with lots of opportunities to enjoy their neighborhood.
11. Montrose
Average 1-bedroom rent: $1,350 Apartments for rent in Montrose
Taking the 11th and final spot on our list of most expensive neighborhoods in Houston is Montrose. The average rent for a one-bedroom apartment is $1,350, compared to the city’s average of $1,256. This neighborhood is about 3 miles from downtown, meaning it’s closer to some of the other popular neighborhoods like Midtown and Astrodome. Montrose’s expensive rent may be offset by its famous attractions like the Menil Collection, the Rothko Chapel, and Westheimer Road, which has countless bars, restaurants, and local shops to explore. The convenience of these activities might be worth it to move to the neighborhood.
Methodology: Whether a neighborhood has an average 1-bedroom rent price over the city’s average. Average rental data from Rent.com in March 2024.
As the latest season of the hit reality competition series “The Circle” hit our screens, we couldn’t help but notice that something looks a little bit different.
And no, we’re not talking about the new AI bot that has entered the chat (sorry, Max).
The reality show has a brand new building, a whole new series of colorful apartments, and a fresh filming location set on American soil — stepping away from the UK filming location where all international versions of the dating series have been filmed up until now.
Season 6 sees contenders take residence in a Midtown Atlanta apartment building, with each of their units meticulously designed by art director Karen Weber, a reality series vet who also worked on America’s Next Top Model.
And she took extra care in designing each apartment, as well as the communal spaces the contestants get to enjoy while filming the Netflix production.
So let’s take a closer look at the Atlanta building that now houses the popular series, the colorful The Circle apartments and the design principles that brought them to life, and how you too can book a stay here — though your apartment might look a tad different than those the contestants live in.
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The Circle building is now the Sonder Midtown South, in Atlanta
Unlike previous seasons and all other international versions of the series — which all filmed in Northern England, at the 206-unit Adelphi Wharf building in Salford, UK, right outside of Manchester — Season 6 takes place stateside in Atlanta, Georgia.
Offering a fresh setting for the drama to unfold, the Sonder Midtown South apartment building at 126 Renaissance Pkwy NE in Midtown Atlanta serves as the main filming location for the hit Netflix series.
Designing the colorful apartments
Art director Karen Weber led the charge in designing the vibrant new apartments, housed in the Sonder Midtown South building.
With communal spaces like a retro launderette and a rooftop courtyard, Weber aimed to create distinct yet cohesive living environments for the players, each measuring approximately 1,200 square feet.
And this was no easy feat, especially while trying to emulate the bold, colorful aesthetics the series is already known for.
Each apartment has its own theme and decor
From bold color palettes to whimsical themes inspired by Barbie and Wes Anderson, the transformed spaces offer a Pinterest-worthy aesthetic that’s sure to catch the eye of viewers.
The apartments, given names like Glamour Room and Artist Loft, were curated with furniture and decor sourced from vintage shops and salvage yards around Atlanta, lending them a bespoke feel.
For some spaces, art director Karen Weber aimed to create “really bright high energy,” while other rooms were meant to feel “more adult, laid-back, and [a] little more restful,” she shared on Netflix’s blog. After all, the players actually had to live in the spaces throughout filming, so comfort is key.
And while the budget was the same for each apartment in the new The Circle building, creating a variety of spaces and aesthetics is paramount to the show’s success.
“Giving producers that kind of a range [of types of spaces] lets them figure out who fits where,” Weber added.
Design inspiration for fans of the series
But in Weber’s eyes, the apartments aren’t just for the players who inhabit them.
She also wanted viewers watching along to imagine themselves in the living spaces and perhaps inspire them to transform their own — either by stenciling something on a wall or spray-painting fish scales on a bathroom cabinet.
“I try to do a couple of DIY projects in each space that could be done by someone at home,” she says.
Re-designing 10 more apartments for the next contestants
As if Weber didn’t have her work cut out for her, as soon as she was done setting up the apartments for Season 6, she had to do it all again in preparation for the already-announced Season 7. For the upcoming season, another 10 new apartments had to be designed from the ground up.
“It’s the sandcastle theory, because you build this beautiful thing and then you let it all just get washed away and it’s done,” she says. “The rooms have their moment and then you have to move on.”
You can stay at the Atlanta building where The Circle filmed
While fans won’t be able to book a stay in the exact apartments seen on-screen, they too can book a stay in the building featured on the show whenever visiting Atlanta.
The Sonder Midtown South offers sleek and modern accommodations with amenities like a fitness center, outdoor grill, and in-unit laundry. And its colorful, imaginative makeover for The Circle only adds to the building’s appeal.
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“There’s such scarcity that the first thing that matters is finding a home you like,” said Jay Tuli, president of Leader Bank, which sells 90 percent of its home loans in Massachusetts.
Home sales are down year-over-year due to the lack of inventory, said Theresa Hatton, chief executive of Massachusetts Association of Realtors.
Many prospective buyers who were waiting for the Federal Reserve to begin cutting interest rates by now have reason to give up hope. Inflation isn’t coming down quickly enough and, at 3.5 percent, is still well above the Fed’s 2 percent target. So the central bank won’t trim short-term rates fast enough this year, contrary to what most economists had been expecting. Consequently, the 30-year fixed mortgage rate has risen to 7.1 percent, over 1 percentage point higher than this time last year and 0.6 percent more than January 2024, Freddie Mac reported last week.
“Until inflation cools a bit, we can expect mortgage rates to remain elevated,” said Michael Debronzo, a regional sales executive at PNC Bank, which has noted a slight uptick in loan applications.
The market is closely watching the Fed’s every move and the economy is a confounding puzzle even for experts. That will result in a volatile ride for the remainder of the year.
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With that in mind, here are three things for home buyers to consider, according to Berkshire Bank’s Ellen Steinfeld, head of consumer lending and payments:
Expect home listings to remain tight. That’s because those who financed their homes during the low-rate era are staying in their homes for longer. Even those who were looking to downsize are staying put. Financially, it doesn’t make sense to sell if you also have to buy at these rates. Usually, people try and sell their home before bidding on a new one, but right now it’s the other way around, said Steinfeld, who’s based in Long Island, N.Y.
This also means home prices are unlikely to drop. In certain cases people are paying more than the asking price, engaging in bidding wars. “I anticipate during the remainder of this year we’ll continue to see price appreciation,” Steinfeld noted.
Finally, even though interest rates will likely drop a smidge by late 2024, they won’t reverse anywhere as quickly as their speedy rise postpandemic. Meanwhile, buyers can do cheaper 3- or 5-year adjustable rate mortgages and refinance when rates drop.
“The cost of refinancing is reasonable enough,” Steinfeld said.
In real estate investing, the BRRRR strategy is a powerful tool for building wealth. Here’s a BRRRR case study on one of my rentals. You’ll see how this strategy can be applied, showcasing the potential for significant equity growth and cash flow generation.
Table of Contents
What is BRRRR?
BRRRR stands for Buy, Rehab, Rent, Refinance, Repeat. It’s a cyclical process where you:
Buy an undervalued property.
Rehab the property to increase its value.
Rent out the property to generate income.
Refinance the property to take cash out based on the increased value.
Repeat the process with the withdrawn cash to acquire more properties.
See my full BRRRR guide here: How to use the BRRRR Method to Buy Rentals With Less Money
You can also use my BRRRR calculator.
The Case Study
I’m a real estate investor with years of experience with the BRRRR strategy. I’ll show how I used it on a property I bought back in 2012. Here’s a breakdown of the journey:
Buying at a Discount: I purchased the property for $109,000, securing a good deal through a short sale.
Rehabilitation: Minor repairs and cosmetic upgrades were done for around $12,000.
Renting for Cash Flow: The property was rented out for $1,300 per month.
Cash-Out Refinance: Two years later, after property values appreciated, I refinanced the property at $143,500. This allowed me to recoup his initial investment and repairs, along with an additional $17,000.
The Results: Today, the property is estimated to be worth $415,000. I enjoy a positive cash flow even after factoring in property management and enjoy significant equity in the property.
Video of BRRRR Case Study
Key Takeaways
Buying below market value creates instant equity.
Refinancing can be a powerful tool to access capital for further investment.
BRRRR allows you to build wealth through both cash flow and equity appreciation.
Important Considerations
Not all properties are suitable for BRRRR. Careful analysis is crucial.
Market conditions can impact the success of the strategy.
Refinancing involves additional costs and considerations.
Conclusion
The BRRRR strategy, as demonstrated in this case study, can be a successful approach to real estate investing. By strategically acquiring properties, making improvements, and leveraging refinancing, investors can build wealth and achieve financial freedom.
Are you interested in learning more about the BRRRR strategy and how it can benefit you?